Mumtalakat Holding Company - which is wholly owned by the Kingdom of Bahrain - has agreed to buy a 30% stake in Formula One team McLaren. Parent company DaimlerChrysler will still own 40% of McLaren but the holdings of team boss Ron Dennis and TAG will be reduced to 15% each.
A team statement said there would be no change to the existing management team.
The deal must be cleared by competition regulators, which McLaren envisage will take up to six weeks.
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